GI Bill Processing Improvement Act This bill directs the Department of Veterans Affairs (VA) to make available to an educational institution through a secure information technology system the amount of specified veterans educational assistance available to a veteran or an individual pursuing a VA approved-course at such institution. The bill extends the authority for the Veteran's Advisory Committee on Education until December 31, 2022. A reporting fee paid by the VA to an educational institution or joint apprenticeship training committee after the date of enactment of the Post-9/11 Veterans Educational Assistance Improvements Act of 2011 with respect to an institution that has 75 or more enrollees may not be used for or merged with amounts available for the general fund of the educational institution or joint apprenticeship training committee. The VA shall prescribe training requirements for a school certifying official employed by a covered educational institution offering approved veterans education courses. A covered educational institution is an institution that has enrolled 20 or more individuals using veterans educational assistance. The bill increases VA funding for state approving agencies and requires the VA to provide such agencies with a cost of living adjustment that equals the same percentage increase as benefits provided under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act.